[Arguendo]

Not that I'm defending most elements of the bailouts, but the number they give here is almost meaningless. No one suggests that the cost of the bailouts will by $8.5 trillion, that's just their gross "value." For instance, this number includes $1.5 trillion of new FDIC guarantees, but it is highly unlikely that actually payouts will come even close to this. Even most of the $350 billion or so that the Treasury Debt. has invested in bank equity should come back to the treasury, perhaps even at a profit, unless every one of those banks fails (in which case a $350 billion government expenditure would be the least of our worries).

[ex-Texan]

"No one suggests that the cost of the bailouts will by $8.5 trillion . . . "

You are incorrect. That $ 8.5 Trillion is official. Check out the headline below.

It was featured on FR and many freepers commented . . .

The total cost of these bogus bailouts will easily exceed $ 10 Trillion. The 50 States are waiting in the wings, begging for more bailouts. That includes the cost of the royal shafting that Americans received thus far.

Bernanke and Paulson lied in testimony before Congress. They ought to be arrested and charged with perjury. Then Bush and Congress conspired to rape taxpayers for excessive costs for the next thirty years!

A Trillion Here, A Trillion There, Pretty Soon We’re Talking About Real Money !